Thanks for the link, @David_Wilson. The Nikon D7000 saves raw at 12 or 14 bits/channel/pixel. They don’t say what they tested the raw at, but I assume 14 bits. The JPEG comes out of the same sensor (obviously) so I suppose that is also from 14-bit inputs. As they rightly say, the useful dynamic range varies according to acceptable noise.
Interestingly, the density response is somewhat non-linear. I expect a standard curve could be applied to make it linear. In my less-scientific tests, a D800 is more linear.